Elon Musk To Analysts: Stop With The 'Boring, Bonehead Questions' On Tesla

To a question about the Tesla Model 3, which has had a slower-than-expected rollout, Musk replied: "These questions are so dry".

A Tesla spokesman wouldn't comment on Musk.

Yet the Tesla CEO also mounted a defense of the call that may raise even more questions about his handling of the situation, which continues to overshadow the company's actual results.

"One of the common misimpressions is that when there is, say, a serious accident on Autopilot, people-or some of the articles-for some reason think that it's because the driver thought the auto was fully autonomous and it wasn't, and we somehow misled them into thinking it was fully autonomous".

First death reported from E. coli in California
However, E. coli infections often do not reach the CDC for two to three weeks, suggesting the case count may be higher. But even if no one is eating tainted lettuce now, case counts may still rise because there's a lag in reporting.


Musk told investors during the earnings call that Model Y production wouldn't start until "early 2020" at the earliest. A "vast majority" of the company's manufacturing process is already automated, but Musk seems to be planning to take it to a whole new level. So almost five months ago, weeks before Tesla pushed back its Model 3 target to 2,500 units in Q1 2018 (which it failed to meet), the street didn't even think a profit in Q3 was possible. Free cash flow, which is cash generated minus capital spending, was a negative $1 billion. A net profit is likely by the third quarter, he said. "The amount of cash required may become so large that they can't find their way out of it through share offerings anymore". Musk fired, "Excuse me". Investors see the targets as shooting for the stars, and they applaud if Tesla makes it only halfway there, he said. Tesla stock has fallen 26% since its peak in September.

"Oh and uh short burn of the century comin soon". Bob Lutz, a retired General Motors vice chairman and chief spokesman for Detroit's Tesla disdain, said the odd conference call and first-quarter numbers show the reckoning is near. He wants to deflect, and mesmerize the crowd with science-fiction tales: Mars, Hyperloop, Semis, Tunnels. why change?

Musk's insults, and his refusal even to respond to legitimate questions, made for one of the weirdest corporate earnings conference calls in recent memory. The SUV crossover will likely be produced at a new factory that would be announced towards the end of this year. Tesla built just 2,400 of the sedans in the first six months of production, although the company says it is now building approximately that amount per week and targets a 5,000-per week figure in the next two months.

The spat comes at a crunch time for Tesla, when it is struggling to ramp up production of its Model 3 sedan, on which its profitability depends.

(Copyright © 2015. All Rights Reserved.)
 
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